Ascot Resources is making headlines with its plans to reboot commercial operations at the historic Premier gold mine later this year. The mine, which closed in the early 1950s, saw Ascot pour its first gold on April 20 in B.C.’s Golden Triangle. The company aims to start commercial production in the third quarter of this year, with expectations to yield 1.1 million ounces of gold and three million ounces of silver over eight years, according to its 2020 feasibility study.
In other mining news, Teck Resources reported a 74% increase in copper production in the first quarter of 2024, driven by its Quebrada Blanca operation in Chile. Honda is investing $15 billion in Ontario to establish Canada’s first comprehensive EV supply chain, while Champion Iron is considering expanding production capacity at its Bloom Lake mine in Quebec.
On the global front, BHP Group has made a $38.8 billion bid for Anglo American, potentially creating the world’s largest copper miner. Meanwhile, Deputy Prime Minister Chrystia Freeland mentioned that Canada and its allies are contemplating trade measures against Indonesia and China due to oversupply of nickel in the market.
The mining industry continues to make strides, with Magna Mining starting test mining at the Crean Hill mine in Sudbury, Ontario, and The Metals Company producing the first nickel sulfate from seafloor polymetallic nodules. Stay tuned for more updates in the mining sector as we bring you the latest news each week.
